For six months, Connex Credit Union will be working closely with four participants to see who can become the most fiscally fit to win a $3,000 grand prize. Each participant has been paired with a Connex Financial Advocate who will offer real-world, practical advice on how to reduce debt, build savings, and many other helpful financial tips and advice. Connex received over 100 applications for the sixth annual ConneXfactor competition! Below is the next update on Justine J.
Justine J.: The Financial Rollercoaster
Coach: Gezim Stroka, Branford Branch Manager
The last month has been very busy for Justine. It’s been like a roller coaster ride, with ups and downs, but staying on track to its final destination!
She’s had a couple of setbacks so far this summer, with the recently mentioned vacation expenses being one of them (in her prior blog post). Justine did have money set aside for her trips, but went a little over budget. The second challenge was having to move unexpectedly. A while ago, Justine had moved back home with her parents so she could pay off her credit card debt and student loans quicker. She was still paying them rent, but it was less expensive than taking on her own place right now.
This situation has changed as of late, with Justine having to rent her own place now. This unanticipated expense caused her to dip into her emergency savings for the rent and security deposit she had to put down. Justine used some of the funds to purchase furniture as well. This move did affect her savings, but the good news is that she will have some cash freed up since she just paid her last school bill. She’ll be able to recover some of the funds taken from her emergency savings account, in the next month. Justine is confident that the account will be replenished by competition end, and will meet the goal we established for it in the beginning of the competition.
She is still continuously looking for ways to save money by shopping in bulk, making meals at home, and using coupons whenever possible. The move may have been a curveball for Justine, but she is still stepping up to the plate to get back on track!
Have you experienced an unexpected financial challenge, and need help creating a plan? Join our ConneXfactor contestants and let our Financial Advocates work with you to create a financial plan to help you stay on track! Stop by any branch or get started online today.